EURUSD

European Open Preview – Pound under pressure as Tories trigger leadership contest

Posted on December 12, 2018 at 9:12 am GMT

Sterling near 20-month lows as Conservative lawmakers trigger no-confidence vote in Theresa May; ballot to be held today Risk appetite recovers as Trump and China stoke hopes for a deal Euro remains on the back foot ahead of tomorrow’s ECB meeting US inflation data on tap Sterling crumbles as Tories trigger leadership challenge The British pound sank to a fresh 20-month low versus the dollar on Tuesday, following reports that “rebels” within Theresa May’s Conservative party nearly have the numbers [..]

ECB to end QE but support still needed – Forex News Preview

Posted on December 11, 2018 at 3:49 pm GMT

The European Central Bank will hold its last policy meeting for the year on Thursday at 1245 GMT and consensus is for policymakers to keep interest rates steady and terminate the quantitative easing program as promised. The Bank will also update its growth and inflation projections in the same day but with economic indicators showing no signs of recovery and political risks still hanging in the background, it would be interesting to see how the ECB will support the bloc [..]

European Open Preview – Brexit vote delayed and pound pays the price

Posted on December 11, 2018 at 9:03 am GMT

US-China discuss trade talks schedule, but markets keep risk-off behavior May delays Brexit vote in Parliament; pound drops below 1.26 Italian budget adjustments not ready yet US-China discuss roadmap for trade talks The Chinese Vice Premier, Liu He, is said to have exchanged views with the US Trade Representative, Robert Lighthizer and the US Treasury Secretary, Steven Mnuchin, on how to move trade talks forward on Tuesday, giving some grounds for optimism that a worsening trade war is not in the interest of either nation. [..]

Technical Analysis – EURUSD surpasses short-term SMAs; posts bullish days

Posted on December 10, 2018 at 7:05 am GMT

EURUSD has reversed back up after finding support at the 1.1265 barrier, successfully surpassing the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Price advanced above the 1.1400 handle and is set to complete the fourth green day in a row, approaching the long-term descending trend line. The bullish bias is further supported by the MACD, which is holding above the trigger line, while the RSI entered positive territory, signaling more gains in the very short-term. In case of [..]

Week Ahead – Pound to take centre stage as Brexit vote looms; ECB meets amid worsening Eurozone outlook

Posted on December 7, 2018 at 2:00 pm GMT

The pound looks set for even choppier times as British MPs will next week get to vote on Theresa May’s much criticized Brexit deal, while there will also be a flurry of UK data for traders to keep up with. The euro will also be in focus as the European Central Bank is due to hold a scheduled policy meeting. The Swiss National Bank will be another central bank deciding on rates next week. In the US, inflation and retail [..]

European Open Preview – Dollar moves off lows ahead of US jobs report but weighed by talk of Fed pause

Posted on December 7, 2018 at 9:14 am GMT

US dollar edges up from lows as risk sentiment improves, but expectations that the Fed could soon pause its rate hike cycle limit gains US Treasury yields fall sharply on Wall Street Journal report that Fed is considering “wait-and-see” approach Pound steady despite May pondering whether to delay Brexit vote Oil under pressure again as OPEC struggles to reach output agreement, awaits for Russia to join talks before making decision Dollar firmer ahead of nonfarm payrolls report The US dollar [..]

European Open Preview – Risk sentiment sours; OPEC summit front and center

Posted on December 6, 2018 at 8:33 am GMT

Risk appetite crumbles as US arrests Huawei CFO, generating worries of re-escalation in the trade conflict Today, all eyes are on OPEC’s meeting (1200 GMT); expectations for a production cut are elevated Loonie nosedives to a 1½-year low as BoC shifts to a more cautious stance Risk appetite falters on fears of “trade war” re-escalation After a relatively calm Wednesday, risk appetite deteriorated once more during the Asian session on Thursday, following news that the CFO of the Chinese tech [..]

Strategy update: The trade ‘truce’, the Fed’s possible pause and May’s Brexit woes

Posted on December 5, 2018 at 3:06 pm GMT

Markets unconvinced by Trump-Xi trade rapprochement The Fed could slow rate hikes Market braces for Brexit turbulence as May struggles to convince Parliament Markets unconvinced by Trump-Xi trade rapprochement A major theme for global markets and the global economy is the uncertainty caused by the frictions between the United States and China. It was therefore an initially positive piece of news that the two countries would restart a new round of negotiations that would last for 90 days, that China would pledge to import [..]

European Open Preview – Stocks sink amid trade woes; BoC decision eyed

Posted on December 5, 2018 at 8:57 am GMT

Trump’s trade posturing sinks stock markets Bank of Canada to stand pat (1500 GMT), but may appear a touch more cautious Dollar rebounds after Fed’s Williams reiterates “gradual hikes” Sterling remains turbulent as Parliamentary debate kicks off Equities sink on Trump’s trade posturing Wall Street plunged, with the S&P 500 falling by a whopping 3.24% and the tech-heavy Nasdaq Composite nosediving by 3.80%. Meanwhile, defensive assets like the Japanese yen outperformed. The mood was already sour before the US markets [..]

European Open Preview – Markets retrace as trade optimism wanes

Posted on December 4, 2018 at 8:58 am GMT

Trade optimism fades as markets digest the agreement Dollar extends recent pullback Oil continues to recover amid speculation for an OPEC cut RBA slightly more upbeat, but no policy change in sight Stocks edge higher on trade relief, but optimism wanes The boost to global risk appetite following the US-China trade “ceasefire” seems to have been short-lived. Even though US stock markets closed higher, they did surrender a decent part of their gains late in the session, and futures tracking [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms